This is the 'Attack in the Box Joker' from the current Mattel in-house Batman action figure line.
Swamp Raider Killer Croc before him, this Joker appears to be an escaped inmate with the orange pants/shirt and I like the consistency of design between the two.
I have to admit, a huge component of the appeal of this figure for me and why I had to have him is that he is either A) a reflection of our times or B) a poorly timed design variation that ironically reflects our times. Is art imitating life or vice versa here? Either way, a machine-gun toting urban terrorist Joker is what we got.
As for Joker himself, in addition to the overall design aesthetic, there are a couple of fun little design elements that really make him pop.
See, that's the thing about this Joker, as much as he is non-canon, he's pretty canon if you think about how the Joker might approach a certain situation. I can imagine him doing some bad Stallone, Schwarzenneger and Van Damme impressions during whatever military strike he's making which necessitated this silly garb in the first place.
Also, this figure would make the perfect base to customize the 'Return of the Joker' version of our favorite Clown Prince of Crime.
I like the design of the Rockabilly Joker that is also a part of this line, but prefer this version since he lacks the action feature of that other Joker. Although a head swap, giving this Joker the Elvis-do, might look pretty neat!